First West Announces Acquisition in Saskatoon and Regina

First West Properties Ltd.
400, 2424 – 4 th Street S.W.
Calgary, Alberta T2S 2T4
FOR IMMEDIATE RELEASE
Acquisition in Saskatoon and Regina, Saskatchewan
Calgary, Alberta: February 12, 2010 – First West Properties Ltd. ("First West" or the "Company") is
pleased to announce that all matters in connection with the acquisition of two properties in Saskatchewan,
one in Regina and one in Saskatoon, have now completed with an effective acquisition date of February
1, 2010 for both.
The Regina acquisition consists of a light industrial property located at 290 Henderson Drive which
comprises 2.29 acres of land with a 20,000 square foot building on the property (the "Regina Property").
The Regina Property was acquired for a purchase price of $975,000 and currently has two tenants which
occupy the entire rentable area. There is also an annual land lease in place. The annual net rent
anticipated from the property over the next 12 months is $92,500. Approximately 75% of the purchase
price of the Regina Property has been financed by the Canadian Western Bank, the current bankers for
First West.
The Saskatoon acquisition consists of a light industrial property located at 10 Molaro Place which
comprises 4.6 acres of land with a 42,000 square foot warehouse on the property (the "Saskatoon
Property"). The Saskatoon Property was acquired for a purchase price of $2,525,000 and is currently
entirely occupied by one tenant. The annual net rent anticipated from the property over the next 12
months is $210,000. Approximately 75% of the purchase price of the Saskatoon Property has been
financed by the Canadian Western Bank.
First West is an Alberta based real estate investment company focused on building a portfolio of
commercial real estate assets in secondary markets throughout western Canada, where management
expects strong economic growth. First West will also acquire other assets which provide income or
which management can conduct activity that provides fundamental value growth within a reasonable time
frame.
This press release may contain forward-looking statements and forward-looking information, including
statements and information regarding the business and anticipated financial performance of First West.
The words "believe", "expect", "intend", "estimate", "anticipate", "project", "scheduled", and similar
expressions, as well as future or conditional verbs such as "will", "should", "would", and "could" often
identify forward-looking statements and forward-looking information. These statements and information
are only predictions. Actual results and events may differ materially from those contemplated by these
forward-looking statements and information due to these statements and information being subject to a
number of risks and uncertainties. Undue reliance should not be placed on these forward-looking
statements and forward-looking information, as there can be no assurance that the plans, intentions or
expectations upon which they are based will occur. By their nature, forward-looking statements and
forward-looking information involve numerous assumptions, known and unknown risks and uncertainties,
both general and specific that contribute to the possibility that the predictions, forecasts, projections and
other forward-looking statements and forward-looking information will not occur. These risks and
uncertainties include, but are not limited to, general business and economic conditions in geographic areas
where First West has operations; pricing pressures and other competitive factors; results of First West's
on-going efforts to re-lease, lease and improve real estate owned and being acquired by First West;
legislative or regulatory developments; changes in prevailing interest rates; and the availability and terms

of financing. For further information on risks or any material assumptions utilized in making these
forward-looking statements and information, refer to Management's Discussion and Analysis of First
West, including, in particular, under the headings "Risks and Uncertainties" and "Critical Accounting
Estimates". Although First West believes that the expectations represented by such forward-lookingstatements
and forward-looking information are reasonable based on the information available to them on
the date of this document, there can be no assurance that such expectations will prove to be correct. First
West undertakes no obligations to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise, except as required by law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Eric A. Wesling
President
400, 2424 – 4 th Street SW
Calgary, AB T2S 2T4
Tel: (403) 270-4650
Fax: (403) 266-1541